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What is CareCredit and how is it used?
@Red1Blue wrote:What is CareCredit and how is it used?
This should tell you everything you need to know.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Me and my mother have care credit. We used it for things dental does not pay for. Very generous with CL.
When my dog "possibly" ate Raisons the bill quickly went over 2k and Care Credit was offered with 18 months interest free... was a real saver.
Also VERY large CL, you can "ask" for what you want on application and if that is approved instantly it also pops out an accounts number to use instantly and a number to call if you feel you need more CL. and I have heard people doubling and tripling initail approval just by calling.
but they will close if no activity after about a year and hopefully you don't really need the card since it's usually all medical related for human and pets!
My parents got this just a few months ago when I got my wisdom teeth removed. Turned out, even with insurance, it was going to be well over $1k to get all 4 taken out, and they just didn't have the money at the time. The receptionist at the desk actually suggested it...it's my understanding that it's basically a credit card used for medical stuff. I believe you can use it anywhere CareCedit is accepted, similar to AMEX, Visa, etc. And you do get an actual plastic credit card too.
Care Credit comes with a caveat emptor (as do many cards with financing deals).
When the 0% financing deal is over, the balance must be paid in full. If you owe even a small amount, the (very) high interest rate is retroactive to day one. 24.99% (or whatever their current APR) on $1,000 over a year's time is a big wad of cash. And if you wind up having several procedures, each will have its own interest rate package and end date. You'll then have to carefully manage your payments until you know you've paid each individual charge in full before the 0% expires on that particular charge.
The internet is loaded with some pretty sad and scary tales from folks who didn't manage this card extraordinarily well.
We had Care Credit and were pretty dang excited about the high CL, and used it for awhile. When we were (surprisingly) able to open a CU CC with the about the same CL, we closed Care Credit and now use the low APR CU CC for floating medical costs if we have to. I'd rather pay a stable low APR on that CU card, than get hit with a nasty 24.99% APR surprise on CareCredit if there's an unforeseen event that keeps me from getting that bill paid off according to my original plans. Hey, it happens
Also be aware of utilization on this card. If you open a CareCredit and they give you a CL close to the procedure cost do estimate the procedure cost to be higher so you're not maxed out on the card. Or call in for a CLI as someone else suggested - they're known to increase your CL upon request. But be aware of the risks of CareCredit and keep your options open for using other CC's (if you must - and we sometimes have) with less potential of being hit by a killer fee if things are mismanaged, or life happens and you can't pay in full in spite of your best intentions.
I was scheduled to have all four wisdom teeth surgically removed back in May and I knew the cost upfront. While in the midst of my surgery they discovered that I had an additional two wisdom teeth way up in my gums that had not been detected by x-ray (yep, that's right...SIX wisdom teeth total). Needless to say, this was going to be even more expensive than I'd originally planned. CareCredit totally saved my buttocks on that one!
CareCredit is absolutely fantastic as long as you play by the rules (i.e., pay off your balance before your promotional period ends).
Can you do a PC if you have a Care Credit card to another GEMB revolving cards?
GEMB does not offer PC. Each one of the cards they offer is treated very different.
I initially got the carecredit to help finance my brother's teeth - Got 1K CLI - had 12 months to pay it off.
Had to do some vet treatments last spring and when we checked out, we qualified for either 12 months or 18 months of no interest financing.
Unfortunately we had to use the carecredit at the vet last night, IDk how many months financing we got on that - was too upset when leaving to care. CareCredit is a lifesaver.
The statements are also easy to understand as they separate each service and each payoff date.